Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite an extensive read, you should be able to determine if TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar App For Shoopify
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage them. However, it will be up for you and your team to finish the tax returns in time. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your team will have access to all the information you need, like the list of transactions, reports, and information.
The most appealing aspect of this feature is that it allows you to update automatically every day. They not only let you know how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. You can also export the data to a CSV file if you need it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides, or blog posts for additional info. Additionally, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program will be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to go for an upgrade instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar App For Shoopify
However, they did mention that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your revenue and products It can assist you in meeting your deadlines. This is also an excellent option for accountants as they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar App For Shoopify
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete, you might be better to do it on your own.
FAQ TaxJar App For Shoopify
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.